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Jan 28, 2010
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steve liesman, as promised, is in washington with the latest. steve, how's the count going? >> language on. i'm going to turn off kyle. he was just talking. he'sen declares senate republican. >> what did he say? >> debated at this however over the fill buster to stop the nomination of ben bernanke. kyle was talking negatively of bernanke. senator schedule stod vote at 3:20. if they end the filibuster they go to vote on nomination. all indications are bernanke has enough votes to went both but will win with influential opponents. >> even after bear stearns failed chairman bernanke did little to prepare for additional failures. in other words, bernanke fiddled while our markets burned. >> shelby is in the minority for how the senate's likely to vote. but he's in the majority within his party. developing story. talked about with kyle. bernanke could win a second term without the support of the party whose president, president bush, first nominated him. 42% of republican senators support the chairman. 11-15. bernanke could get as many as 70 votes and the senate sentiment reflect
steve liesman, as promised, is in washington with the latest. steve, how's the count going? >> language on. i'm going to turn off kyle. he was just talking. he'sen declares senate republican. >> what did he say? >> debated at this however over the fill buster to stop the nomination of ben bernanke. kyle was talking negatively of bernanke. senator schedule stod vote at 3:20. if they end the filibuster they go to vote on nomination. all indications are bernanke has enough votes...
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Jan 27, 2010
01/10
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also keeping one eye on the third panel down in washington at the house oversight hearing. and most sort of amazingly here in next 15 minutes hearing from the federal reserve on interest rates. >> and whether or not -- >> oh, yeah, that. >> well, you know, one of our guests said the other day they'll be careful in the wording because with the cloud hanging over the bernanke reappointment, they have to be careful with the wording so they don't seem as though they're reflecting the politic ice they have to look independent. >> you have a point on the ipad. >> as much as media companies hope it's another platform for our content, let's remember the new pricing scheme from disney. i believe it's key chest in which you used to pay separately for the different things, dvd and now you have to pay one price and covers all and i wonder if the tablet, the ipad will do that. >> i wonder which one of you two will get it first. >> i'll wait because the pricing is 50% cheaper in six months. >> i was burn sod bad with the kindle. >> all right. we'll see you tomorrow. "street signs" we rin
also keeping one eye on the third panel down in washington at the house oversight hearing. and most sort of amazingly here in next 15 minutes hearing from the federal reserve on interest rates. >> and whether or not -- >> oh, yeah, that. >> well, you know, one of our guests said the other day they'll be careful in the wording because with the cloud hanging over the bernanke reappointment, they have to be careful with the wording so they don't seem as though they're reflecting...
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Jan 6, 2010
01/10
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right now people are unhappy with washington. they're looking at 10% unemployment, looking at gridlock that the appearance of gridlock at least in washington. wondering whether the standard of living for them and their children will be better than in the past and looking for change. you look at our nbc "wall street journal" poll, you see strong numbers saying it's time to elect a new member of congress rather than give the incumbent member a chance. that is a toxic mix for incumbents and particularly for the governing party where democrats are right now. not all of these retirements translate into a loss for the party. in dodd's case, you may have a better chance for a democrat to hold that seat but it's indication of a challenging environment for democrats in 2010. >> and so, when you see two democrats, six republicans you don't read anything into that, do you, in terms of the balance of power between the parties and the common discussion out there, which is that republicans will win in the midterms? >> most times when you have
right now people are unhappy with washington. they're looking at 10% unemployment, looking at gridlock that the appearance of gridlock at least in washington. wondering whether the standard of living for them and their children will be better than in the past and looking for change. you look at our nbc "wall street journal" poll, you see strong numbers saying it's time to elect a new member of congress rather than give the incumbent member a chance. that is a toxic mix for incumbents...
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Jan 14, 2010
01/10
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next on the show, what is the fed's take on washington's new war cry? steve liesman joins us with an exclusive interview with dallas fed president richard fisher. dow 15,000 by next year? the traders almanac says yes. before you print out the hats, art cashin, hear what needs to happen first in order to make the prediction come true. >>> we continue our exclusive newsmakers on this special edition of "street signs." steve liesman will bring in a very special guest. steve? >> thanks, erin. joining us from dallas, federal reserve president and ceo richard fisher. >> steve, good to see you. >> all you have to be is half as animated as barney frank, it will be a terrific interview. let me get right to the date we lad today which retail sales coming worse than expected by economists on the negative side in december, jobs number negative in december, minus 85,000. what's the state of the recov y recovery. >> what do you expect for 2010? >> i i think there is a recovery under way. i think it will be tepid. we're still going to have a problem with unemployment
next on the show, what is the fed's take on washington's new war cry? steve liesman joins us with an exclusive interview with dallas fed president richard fisher. dow 15,000 by next year? the traders almanac says yes. before you print out the hats, art cashin, hear what needs to happen first in order to make the prediction come true. >>> we continue our exclusive newsmakers on this special edition of "street signs." steve liesman will bring in a very special guest. steve?...
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Jan 22, 2010
01/10
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maria, washington is a major factor. >> it sure is. the continued upset and uncertainty over the president's plans regarding the banking sector, once again, pressuring this market, and that is why we have the weakness that we have. in fact, just days ago, federal reserve chairman ben bernanke's reconfirmation by the senate looked like a sure thing. this is the latest upset for traders today. democratic staffers were confident that there would be a vote today, however, it did not happen. instead today, we're seeing bernanke's support in the senate eroding by the hour. this, the breaking story of the afternoon. for weeks now, cnbc's senior economic's reporter steve liesman has been reporting daily on bernanke's prospects and that vote. now, let's get to him and his team. they called all 100 senators to see where they stand. steve joins us now with more on that. steve, what are you hearing? >> reporter: maria, thank you. the surprised comment this morning from the senate leadership that they were uncertain about having enough votes to com
maria, washington is a major factor. >> it sure is. the continued upset and uncertainty over the president's plans regarding the banking sector, once again, pressuring this market, and that is why we have the weakness that we have. in fact, just days ago, federal reserve chairman ben bernanke's reconfirmation by the senate looked like a sure thing. this is the latest upset for traders today. democratic staffers were confident that there would be a vote today, however, it did not happen....
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Jan 13, 2010
01/10
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i'm diana olick in washington. mortgage applications rose 14% last week. largely driven by a 22% surge in refis. the purchase index advanced slightly. . %. the four-week moving average down 4.6%. investing for morgan stanley. john clock recently the ceo of capital trust which he cofounded with sam zell. tomorrow realty check out with its foreclosure report, just how bad the numbers will be? check out next tomorrow morning at 11:50. erin? >> thank you very much, diana. >>> now a case that could change, not only football, but the way all professional sports leagues do business heads to the supreme court. darren rovell is there. >> reporter: erin, it started out real simple. american nido. a hat manufacturer that had the rights to market nfl logos was shut out of that business in 2001 when the league granted an exclusive right to the reebok and they sued saying they violated antitrust laws. the thinking 32 separate teams and 32 separate businesses and shouldn't be able to act as one. the point of view expressed by eye lawyer representing american needle in fr
i'm diana olick in washington. mortgage applications rose 14% last week. largely driven by a 22% surge in refis. the purchase index advanced slightly. . %. the four-week moving average down 4.6%. investing for morgan stanley. john clock recently the ceo of capital trust which he cofounded with sam zell. tomorrow realty check out with its foreclosure report, just how bad the numbers will be? check out next tomorrow morning at 11:50. erin? >> thank you very much, diana. >>> now a...
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Jan 12, 2010
01/10
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>> i can tell you from my experience in washington, the most difficult thing to do in washington, d.c., is to cut expenses. >> right. >> not even during the reagan era did we cut back. we simply held the growth rate. so you look at the president's budget by 2014, they've got defense spending as a percent of gdp down to 3. 5%. we've never done that since world war ii. only during the last few years of president clinton, when we were supposedly banking on this peace dividend, that we took it down below 4%. i'm a suming they're saying the worlds a peaceful place. numbers look good on paper. but the political will to cut expenses in washington is something i haven't seen yet. >> from either party. gentlemen, thank you. hopefully some food for thought for some of our viewers. i wanted to ask viewers, go to usdebt.org. tell us whether you think politicians would cut anything and whether you would vote for someone who would cult your social security. let us know what you think. straight to the trading floor. the market's down 66 points. scott is at the big board, matt at the nasdaq. >> mater
>> i can tell you from my experience in washington, the most difficult thing to do in washington, d.c., is to cut expenses. >> right. >> not even during the reagan era did we cut back. we simply held the growth rate. so you look at the president's budget by 2014, they've got defense spending as a percent of gdp down to 3. 5%. we've never done that since world war ii. only during the last few years of president clinton, when we were supposedly banking on this peace dividend,...
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Jan 25, 2010
01/10
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washington is not calm pap washington is panicked. the white house orchestrated a full-court press, rahm emanuel tell me tim geithner isn't going in anywhere and bill up support for ben bernanke, orchestrating statement business senators in both parties including chris dodd, the senate banking chairman, and the veteran republican, judd gregg. judd gregg on our air talking about ben bernanke and tim geithner. >> yes, we've been through a serious recession. but you're talking about something that could have been on a depression type of level. and it didn't happen. why didn't it happen? it didn't happen because the chairman of the fed, along with the treasury secretaries, both paulson and geithner stepped in and did original things. sure, they pushed the envelope. but if they hadn't pushed the environment, a disaster would have occurred would have been cataclysmic. >> reporter: even if ben bernanke is confirmed, as i strongly believe he will, the white house is not giving up the populist push for various measures, including going after t
washington is not calm pap washington is panicked. the white house orchestrated a full-court press, rahm emanuel tell me tim geithner isn't going in anywhere and bill up support for ben bernanke, orchestrating statement business senators in both parties including chris dodd, the senate banking chairman, and the veteran republican, judd gregg. judd gregg on our air talking about ben bernanke and tim geithner. >> yes, we've been through a serious recession. but you're talking about...
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Jan 26, 2010
01/10
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a rare moment in washington that we wanted to highlight today. i don't know if everyone saw "the new york times," proposing an idea jointly to tacking the jobs crisis. you may think we're making it up. we wanted to put a picture of it, charles e. schumer, orrin g. hatch. democratic senator schumer and republican hatch, calling for a simple plan. companies will not have to pay payroll taxes on anybody they hire this year, the key catch, employees have to have been out of work for 60 days. what's the plan? the what cost? will the ds and rs stop spiting each other? you walked through how this would work, how much it might cost in the short term via lost taxes. but one key question i had for you, it sounds great, you're going to hire people who have been out of work for 60 days. we have millions of people in the country every month who are hired. there's just more who are fired. are you worried you're going to see a replacement, employers mr. hire the same amount of people before, they'll just hire ones out of work 60 days. >> what they would do is t
a rare moment in washington that we wanted to highlight today. i don't know if everyone saw "the new york times," proposing an idea jointly to tacking the jobs crisis. you may think we're making it up. we wanted to put a picture of it, charles e. schumer, orrin g. hatch. democratic senator schumer and republican hatch, calling for a simple plan. companies will not have to pay payroll taxes on anybody they hire this year, the key catch, employees have to have been out of work for 60...
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Jan 19, 2010
01/10
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>> reporter: well, erin, i think most people in washington now at the white house and on capitol hill do assume that scott brown is going to win this race. i think it affects different issues in a different way. health care is the signature domestic initiative of barack obama, very close to the finish line, i think markets that are betting on health care to die are betting wrong, that it's likely to pass in a different way with likely the house accepting the senate health care bill though a lot of the members don't want to do it. but there are other issues that could be affected differently. i think on energy, the prospects for a cap and trade regime which has not moved in senate has gotten more difficult. you're going to have moderate members flaking off of that proposal. it was already going to be uphill. i think it's more steeply uphill. financial regulation gets more attractive to democrats now because i think you've seen a populace turn in the white house's rhetoric. they are going to ratchet up attacks on established corporate leaders, wall street leaders. you may also see that
>> reporter: well, erin, i think most people in washington now at the white house and on capitol hill do assume that scott brown is going to win this race. i think it affects different issues in a different way. health care is the signature domestic initiative of barack obama, very close to the finish line, i think markets that are betting on health care to die are betting wrong, that it's likely to pass in a different way with likely the house accepting the senate health care bill though...
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Jan 7, 2010
01/10
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with your daily realty check i'm diana olick in washington. unexpected third quarter profit from lennar, first since 2007, but it's all from taxes. the nation's third largest home builder reported a $320 millionn from carryback losses on land sales while losing $295 million from operations. >>> apartment vacancies set a new record. asking rent showed the largest decline ever dropping 2.3% while effective rents plunged 3%. and for the first time in five weeks mortgage rates fell to 5.09%. the 30-year fixed hit record low of on december 3rd. lower borrowing cost obviously a boost to potential buyers. until then go to the blog realtycheck.cnbc.com. >> thanks so much, diana. when you thought it was safe to head back to the roads people will not hit the text anymore. up the tech game inside of your car. let's go to julia boorstin and get the headline. >> reporter: hi, erin. cars are front and center here at c.e.s. 380 electronicsmakers. the huge role the auto industry is playing the show kicked off this morning with a keynote from ford ceo alyan mu
with your daily realty check i'm diana olick in washington. unexpected third quarter profit from lennar, first since 2007, but it's all from taxes. the nation's third largest home builder reported a $320 millionn from carryback losses on land sales while losing $295 million from operations. >>> apartment vacancies set a new record. asking rent showed the largest decline ever dropping 2.3% while effective rents plunged 3%. and for the first time in five weeks mortgage rates fell to...
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Jan 11, 2010
01/10
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. >>> welcome back to "street signs" with your daily realty check i'm diana olick in washington. the department of housing and urban development's inspector general just announced a major probe of fha lenders with high foreclosure rates. the initiative will be detailed at a news conference tomorrow. fha defaults have skyrocketed in just the past year. >>> almost 5% of all commercial mortgage-backed securities are now in default, that, according to fitch ratings. delinquencies to hit peak of 12%. a potential drag on a growing economy. he says values are linked to jobs. "with a potential for self-reinforcing dynamic that could be worse than expected." check back with the realty check next tomorrow morning at 11:50. erin. >> thank you, diana. >>> and now, move over bricks, here come the mavins. six countries betting on commodities over the next ten years. they've combined economies of these countries could be 60% of america's gdp. that further ado, the mavins are -- mexico, australia. this sounds like a game show. vietnam. indonesia. nigeria and south africa. and we even got the fla
. >>> welcome back to "street signs" with your daily realty check i'm diana olick in washington. the department of housing and urban development's inspector general just announced a major probe of fha lenders with high foreclosure rates. the initiative will be detailed at a news conference tomorrow. fha defaults have skyrocketed in just the past year. >>> almost 5% of all commercial mortgage-backed securities are now in default, that, according to fitch ratings....
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Jan 20, 2010
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how he sends us a bill how much washington mutual would have cost? >> they would say jamie dimond and jpmorgan got to the business too late to make the mistake. >> i still want to know aig sells a division. how about the other 200 billion they are so confident pay us back on? i'd rather press them than i would jamie. >> they have very outspoken man who says what he thinks. >> i like him. he is funny. >> today is -- >> this is a great quarter. because things -- you always buy bank stocks when you know the bad loans have peaked and coming down. you don't wait until no more bad loans because if you do you're buying at 30. anybody who has seen banking cycles of which unfortunately for younger people meaning people who are 40 you haven't seen it. this is a common pattern. you have to buy now, not wait until things are perfect. because when things are perfect, the move is over. and nothing is more indicative of the future of a bank than when bad loans peak and they peak for bank of america. >> again, we keep getting e-mail about this. bank of america is, o
how he sends us a bill how much washington mutual would have cost? >> they would say jamie dimond and jpmorgan got to the business too late to make the mistake. >> i still want to know aig sells a division. how about the other 200 billion they are so confident pay us back on? i'd rather press them than i would jamie. >> they have very outspoken man who says what he thinks. >> i like him. he is funny. >> today is -- >> this is a great quarter. because things...